Global geopolitical and economic shifts have shaped labour market dynamics and workplace trends in Nigeria, presenting potential opportunities in the job market.
This was shared by Ugodre Obi-Chukwu, the founder of Nairametrics Financial Advocates, as keynote speaker at the Workplace Outlook event, organized by Alan & Grant on the 24th of November in Lagos.
The theme of the event was: Balancing the Conversation: Aligning Employee and Employer Expectations.
Ugodre explained that balancing the conversation between employee and employer expectations in the evolving global landscape requires a nuanced understanding of geopolitical shifts, economic indicators, and proactive HR practices.
The Workplace Outlook event aimed to provide valuable insights into navigating these challenges and capitalizing on emerging opportunities in the labour market.
Here are the following highlights from the presentation and the panel discussion:
Global Landscape Impact on Emerging Markets
Ugodre’s presentation highlighted the events in early 2023 which were shaped by global conflicts like the Russia-Ukraine and Israel-Hamas wars, and others underscoring their repercussions on emerging markets such as Nigeria.
China’s Ascendancy
With China’s rise as a global superpower, Ugodre emphasized potential opportunities for job seekers and entrepreneurs to leverage China’s technological advancements.
Challenges in the Financial Market
Speaking further, he discussed the clampdown on cryptocurrency along with key economic indicators affecting Nigeria’s macro-economy.
Factors such as high inflation, driven by supply-side issues, were identified as influencing borrowing and project funding strategies.
In addition, the slow economic growth, recession in various industries since 2021, and the potential for increased taxes in Nigeria were outlined, providing a comprehensive overview of the economic landscape.
Opportunities in the Labor Market
Ugodre identified diversification away from the oil and gas sector, emphasis on technology and innovation, infrastructural development, financial services expansion, tourism and entertainment, manufacturing and local production, export expansion, education and training, healthcare development, agriculture, and expansion as potential areas for job opportunities.
Global Work Trends
According to him, the trends shaping the workplace, including increased remote and hybrid work, digital transformation, a focus on employee well-being, upskilling, gig economy growth, diversity and inclusion initiatives, sustainability practices, automation, and entrepreneurial culture, were highlighted and discussed.
Panel Session Insights
The event also featured a panel session with professionals who discussed challenges such as mass resignations and strategies to keep employees motivated.
The first panel comprised Jumoke Awolumate, CEO of Sceptre Advisory, Busola Ayelowo, a doctor and founder of Euracare Wellness centre, Stanley Eluwa, a Human Resources professional, Dr Deji Osasona (Dr Osas), a medical doctor & Psychologist turned Behaviour Therapist, Jacqueline Aki, Managing Partner, Wellness Designat James Cubitt Interiors, Taiwo Dayo Abatan, Regional Head HR, Sub Saharan Africa, VFS Global and Yewande Oso, an HR Business Professional.
Key points discussed include leveraging on training, creating a legal bond after training to ensure employee retention, and ensuring adherence to the employment contract.
According to Taiwo Dayo Abatan,
- “Employee and employer conflict can be removed by avoiding ambiguity in the employment contract. Employers should be open with contact which removed entitlement mentality”.
Others discussed are the importance of ensuring a psychologically safe work environment, aligning values with organizational goals, and understanding the impact of one’s formed attitude to work on international work prospects.
As advised by Dr. Osas,
- “The attitudes and behaviour you put up at work in Nigeria can program your life for life thereby affecting your performance when you work abroad”.
As Yewande Oso rightly puts it,
- “Values should be aligned with the organization. If the organization is about sustainability, then think about what you can offer in the global world”.
Jacqueline spoke on employers needing to be innovative by creating a psychologically safe environment by focusing more on improving the look and feel of the work environment which affects the employee’s mental, physical and spiritual well-being. She advised that Ergonomics must be considered to fit into the workplace.
On Workplace culture, they advised that employers should set the tone of how the workplace should be which determines the culture of the workplace.
The second panel session delved on real-world issues or conflicting topics which HR managers face with their subordinates or employees.
Some of these are dealing with religion in the workplace, mental health, power dynamics. Also, the importance of training business owners on people management, balancing employer and employee expectation in pay levels, learning & development, and so forth.
The panel comprised of Busola Ayelowo, Operations Manager at Euracare, Onyinye Okonji, Co-founder & Chief Commercial Officer at Sycamore, Jimmy Mokikan, Head of Human Resources at MoneyMaster PSB, Faith Akintunde, HR Director for Nigeria & East Africa at Kimberly Clark Corporation, Misan Olukuade, Vice President at Terragon Group, Freda McCarthy, Head of People at Mono and Stanley Eluwa, Human Resources & Legal Director at Promasidor Nigeria Ltd.
Dealing with religion in the workplace
Busola Ayelowo, Operations Manager at Euracare, emphasizes the importance of respecting everyone’s religion, acknowledging differences, and maintaining boundaries, especially in a diverse, multinational settings.
She said,
- “We respect everyone’s religion as we have presence in several countries. It’s about accepting our differences and respecting the boundaries”
In a similar vein, Onyinye Okonji, Co-founder & Chief Commercial Officer at Sycamore, advocates for neutrality in displaying religious beliefs at the office.
She highlights the significance of treating people with respect, emphasizing that actions reflect beliefs and values.
Freda McCarthy, Head of People at Mono, notes the contrast between local and global expectations. While local workplaces may integrate religious practices, global organizations prioritize technical competence, promoting diversity and inclusion based on skills rather than religious affiliations.
Addressing mental health in the workplace
In addressing mental health in the workplace, Jimmy Mokikan, Head of Human Resources at MoneyMaster PSB, emphasized the need for balance, peace, and aligning with corporations that support employees’ mental well-being.
Power dynamics
Tochi, in discussing power dynamics, shares a consulting experience where implementing a feedback mechanism gave room for the employees to express themselves which reduced the tension between the employer and employees leading to better communication and increased business profitability.
According to her, transparency, avoiding condescension, and fostering open communication are essential for effective leadership.
Business owners need People Management training
Freda McCarthy underlines the importance of people management training and development for business owners.
She also advocates that line managers and supervisors can initiate the discussion of annual leaves with their subordinates to position themselves as organizations that believe in work-life balance.
She said,
- “People management is a core requirement of what it takes to be a be a Manager today. See your employees as an investment.
- “Employers and line managers can encourage their employees to go on leave to promote their work-life balance.
- Even if the workload is much, they can suggest that the workload can be shared to enable the employees take a break.
- “See your employee as your investment. Prioritize people management. Make people management a requirement to be a manager. Let there also be clarity of expectations on both ends”.
In drawing the line between employee and employer expectation in terms of pay levels, training etc, Gabriel stressed the need for competency frameworks to guide hiring decisions and advises early career starters to focus on learning before specializing.
He emphasized,
- “Every organization should have a competency framework which helps to know who to hire per role, per department and per level.
- “Be a generalist in your line of profession before niching down-as an early career starter. Focus on learning as opposed to earning in the first three years of your career”.
Creating a positive work environment
Onyinye spoke about retaining talent in a volatile world, highlighting the balance between employee expectations and ambition.
She therefore emphasized the importance of empathy, innovation, and creating a supportive environment where both employers and employees thrive. Ultimately, a reciprocal relationship is key for success in the workplace.
